- How Relocating Americans Created New Inflation Hotspots “Americans moved around a lot over the past two years, and those destinations also now happen to have the highest inflation rates in the U.S. ‘We saw right away that inflation was highest in Phoenix and lowest in San Francisco,’ Redfin deputy chief economist Taylor Marr told CNBC. The relationship between migration and inflation has strengthened significantly as more people relocate from expensive coastal cities to more affordable metro areas, according to an analysis released by Redfin, the real estate broker.” (CNBC)
- Dallas Leads Banner Quarter for U.S. Real Estate Investment “U.S. commercial real estate investment volume increased 55.6 percent year over year in the first quarter of 2022 reaching $170.8 billion, according to Newmark’s first-quarter U.S. capital markets report. The total sales volume was the largest first-quarter volume on record, surpassing the peak volume in 2007. Low interest rates, demand for alternative property types and fast-growing Sun Belt markets were major contributors to the increase.” (Commercial Observer)
- As Biden Signals Crackdown on Private Equity in Nursing Homes, Exclusive Analysis Shows PE Health Care Provider Deals Hit a High in 2021 “There were more than 1,000 private equity deals involving health care providers in 2021, a 60% jump in deals over the pre-pandemic level in 2019, according to exclusive data that comes as the Biden administration signals it will take a firmer stance with private equity-backed long-term care. The new analysis was shared with Morning Consult by KPMG Advisory Services, and uses deal data from PitchBook Data Inc.” (Morning Consult)
- For Many, Companies the Return to Office Has Stalled as Employees Push Back “Long-term remote work and the ongoing Covid-19 pandemic have thrown a wrench into some return-to-office plans. Here's what employers need to know.” (The Business Journals)
- Investors Aim to Lead Malls through ‘CMBS Purgatory’ to Retail Paradise “Retail investors see opportunity in the Class-B mall space — those that aren't thriving but aren't dying either.” (Bisnow)
- S.F. Hotels See Tourism Comeback with Highest Occupancy, Room Rates of the Pandemic “Two years after the pandemic shattered San Francisco’s hotel industry.” (San Francisco Chronicle)
- New York Times Puts Return-to-Office Plans on Hold as COVID Cases Rise “The company hasn’t set a new return date, according to the memo, which described the reversal as a “brief delay” to its plans for a wider return. The memo said employees who feel comfortable going to the office are encouraged to do so, but suggested that they wear masks in common areas in its New York locations. Many businesses have set plans for a return to the office in recent months, but they have faced hurdles, from rising Covid cases to a backlash from unions.” (The Wall Street Journal)
- Container Store to Open 70-Plus Stores During Next Five Years “The Container Store is returning to brick-and-mortar growth. With a goal of doubling its sales to $2 billion by fiscal 2027, the Texas-based retailer of storage and organization products and solutions said it plans to open 76 stores during the next five years, including two locations this year. The Container Store noted that it currently has only 5% of the $20 billion home storage and organization market.” (Chain Store Age)
- McDonald’s to Sell Russian Business to Licensees “McDonald’s Corp. has agreed to sell its Russian business to existing licensee Alexander Govor after the fast-food giant said days earlier that it would exit the Russian market. The company said Mr. Govor will acquire McDonald’s entire restaurant portfolio in Russia and operate the restaurants under a new brand. Mr. Govor has been a McDonald’s licensee since 2015 and operates 25 restaurants in Siberia, the company said.” (The Wall Street Journal)
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